Your Closing Costs

"Closing Costs" are the fees which pay for various services involved in the sale of residential real estate. Buyers & sellers usually negotiate these costs.

As indicated below, many of the closing costs result from getting your mortgage loan. At Longhorn Mortgage, we are highly experienced in mortgage lending, so we can compile a comprehensive list of closing costs related to your mortgage in your "Good Faith Estimate".

The Good Faith Estimate (GFE)

Very shortly after you submit your application, we will give you a "Good Faith Estimate" of your closing costs. The closing costs enumerated in the Good Faith Estimate are estimated based on our experience with mortgage loans, but costs often change by small amounts between delivery of the GFE and closing. We will be glad to review the "Good Faith Estimate," answering questions and pointing out costs that sometimes vary a little bit at the closing table.

Below you'll find a fairly generic list of costs for buying residential real estate. We will provide a specific list of your closing costs when we deliver your Good Faith Estimate.

Standard Closing Costs

Loan-Related Costs
  • Points — A fee paid to lower your mortgage interest rate (optional)
  • Appraisal Costs
  • Getting Your Credit Report
  • Interest Payment
  • Escrow Account
  • Various Taxes
  • Loan-related costs
Property Taxes
  • Recording Fees and Transfer Taxes
  • Insurance
Homeowners Insurance
  • Flood / Earthquake Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance

Longhorn Mortgage can answer questions about these closing costs. Call us: 512-302-9410.

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